JPMorgan (JPM) CEO Jamie Dimon famously called Bitcoin (BTCUSD) a “fraud” in 2017 and spent years comparing it to pet rocks, suggesting that its primary purpose is to serve scammers and money launderers. At times, his comments have sunk the Bitcoin price, with many on Wall Street looking to Dimon as a “guru” on all things finance. More News from Barchart Now though, his company’s under-the-radar moves show that not only has Dimon changed his tune – but that JPMorgan is betting the current selloff in cry ...

🚨JUST IN: JPMORGAN HAS OFFICIALLY LAUNCHED ITS DEPOSIT TOKEN JPM COIN ON COINBASE’S BASE NETWORK FOR INSTITUTIONAL CLIENTS - BLOOMBERG ...

LATEST: 🏦 JPMorgan and DBS Bank are developing a blockchain framework for instant 24/7 transfers between their deposit token ecosystems across both public and permissioned networks. https://t.co/hNPE1lU8jq ...

Market Trends & Regulatory Landscape - Bitcoin stabilized above $113,000 after a slight dip of approximately 033% [2] - Ether rose above $4,200, while XRP dipped to $2.90 [2] - The Genius Act, a stablecoin regulation bill, was signed into law last month, marking a significant step in US crypto regulation [5][8] - The House passed the Clarity Act market structure bill, which now heads to the Senate [5] - Institutions are showing increased interest in digital assets due to growing regulatory clarity [30][31] JP Morgan's Blockchain Initiatives (Kexus) - JP Morgan's blockchain unit, Kexus, focuses on payments, information, and assets, with a 10-year history in the space and 5 years of live payment products [10][11][12] - Kexus launched a deposit token called JPMD, designed as a digital representation of commercial bank money, primarily targeting institutional clients [17][20] - JP Morgan's blockchain deposit account facilitates 24/7 treasury settlement and liquidity movement, such as from Singapore to New York in 2 minutes [18][19] - JP Morgan is exploring the potential of stablecoins, driven by client needs and regulatory developments like the Genius Act [27][28] - JP Morgan aims to provide institutional clients with convenient access to digital asset markets without fragmenting their liquidity [32]